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Help - think it may go T!TS UP
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This is where a Chain Manager could have been useful. One person responsible for agreeing prices and completion dates. If one person could negotiate on everyone's behalf it may be possible to complete quickly.
OP should ask if their vendor could accept a lower offer - perhaps £10K or more? This 'saving' could be passed down the chain to attract the desperately needed FTBer or BTLer.
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
Have you actually exchanged yet? They may have signed but have they agreed to exchange contracts - until they commit to this it is not legally binding. Good luck anyway (and good luck to your buyers who are considering an extortionate bridging loan with the current rates!).0
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Have you actually exchanged yet? They may have signed but have they agreed to exchange contracts - until they commit to this it is not legally binding. Good luck anyway (and good luck to your buyers who are considering an extortionate bridging loan with the current rates!).
This is in Scotland as the OP has mentioned missives, so that is actually not the case. Once missives have been completed the contract is legally binding. The buyer can still usually pull out only if something alters the position of the local search such as a planning application which significantly affects the property being purchased.
That said, I'm a real pessimist and didn't believe our house was sold until I actually got the money.
Having the missives completed on your sale will put you in a very strong position to negotiate on the house you want to buy. Good luck.0 -
Yes, contract is now legally binding as per solicitors letter. I have to sign for my new house now. woohoo !!Good manners cost nothing -Bad manners cost friends !Murphys No More Pies member #2130
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